Dakota Wealth Management Sells 36,430 Shares of Ferrari N.V. (NYSE:RACE)

Dakota Wealth Management cut its holdings in shares of Ferrari N.V. (NYSE:RACE - Free Report) by 93.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,635 shares of the company's stock after selling 36,430 shares during the quarter. Dakota Wealth Management's holdings in Ferrari were worth $1,128,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RACE. Park Square Financial Group LLC acquired a new position in shares of Ferrari during the fourth quarter worth approximately $32,000. Alpine Bank Wealth Management acquired a new position in shares of Ferrari during the first quarter worth approximately $33,000. Webster Bank N. A. acquired a new position in shares of Ferrari during the first quarter worth approximately $43,000. Cornerstone Planning Group LLC lifted its holdings in shares of Ferrari by 140.5% during the first quarter. Cornerstone Planning Group LLC now owns 101 shares of the company's stock worth $45,000 after buying an additional 59 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Ferrari during the first quarter worth approximately $48,000.

Ferrari Price Performance

Shares of RACE stock traded down $0.20 during trading hours on Friday, hitting $505.99. 372,162 shares of the company's stock were exchanged, compared to its average volume of 350,420. The stock's 50-day moving average is $483.24 and its 200-day moving average is $459.45. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 4.04. The stock has a market cap of $122.64 billion, a price-to-earnings ratio of 53.54, a price-to-earnings-growth ratio of 5.54 and a beta of 1.09. Ferrari N.V. has a 52 week low of $391.54 and a 52 week high of $510.56.

Ferrari (NYSE:RACE - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.36 by $0.06. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.82 billion. Ferrari had a return on equity of 46.46% and a net margin of 23.00%. The business's revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.95 earnings per share. As a group, research analysts forecast that Ferrari N.V. will post 9.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RACE shares. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. UBS Group upped their target price on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lowered their price target on Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Wall Street Zen cut Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $526.25.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.